Balance Sheet Reddit, Inc.

Equities

RDDT

US75734B1008

Internet Services

Market Closed - Nyse Other stock markets 21:00:49 12/09/2024 BST			After market 00:00:06
59.63 ^USD	-0.40%		59.32	-0.53%

09-11	Transcript : Reddit, Inc. Presents at Goldman Sachs Communacopia + Technology Conference 2024, Sep-11-2024 10:50 AM
09-10	Videogame retailer GameStop misses quarterly revenue estimates	RE

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Published financial data: REDDIT, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023
Revenues	229M	485M	667M	804M
Total Revenues	229M	485M	667M	804M
Cost of Goods Sold, Total	55.03M	72.56M	105M	111M
Gross Profit	174M	412M	562M	693M
Selling General & Admin Expenses, Total	119M	283M	369M	395M
R&D Expenses	118M	257M	365M	438M
Other Operating Expenses, Total	236M	540M	734M	833M
Operating Income	-62.56M	-127M	-172M	-140M
Interest And Investment Income	-	355K	-	-
Net Interest Expenses	-	355K	-	-
Other Non Operating Income (Expenses)	3.49M	-698K	14.23M	53.14M
EBT, Excl. Unusual Items	-59.07M	-128M	-158M	-87.02M
EBT, Incl. Unusual Items	-59.07M	-128M	-158M	-87.02M
Income Tax Expense	102K	340K	622K	3.8M
Earnings From Continuing Operations	-59.17M	-128M	-159M	-90.82M
Net Income to Company	-59.17M	-128M	-159M	-90.82M
Net Income - (IS)	-59.17M	-128M	-159M	-90.82M
Net Income to Common Incl Extra Items	-59.17M	-128M	-159M	-90.82M
Net Income to Common Excl. Extra Items	-59.17M	-128M	-159M	-90.82M
Per Share Items
Net EPS - Basic	-1.23	-2.47	-2.77	-1.54
Basic EPS - Continuing Operations	-1.23	-2.47	-2.77	-1.54
Basic Weighted Average Shares Outstanding	48.26M	51.69M	57.25M	59.14M
Net EPS - Diluted	-1.23	-2.47	-2.77	-1.54
Diluted EPS - Continuing Operations	-1.23	-2.47	-2.77	-1.54
Diluted Weighted Average Shares Outstanding	48.26M	51.69M	57.25M	59.14M
Normalized Basic EPS	-0.77	-1.54	-1.72	-0.92
Normalized Diluted EPS	-0.77	-1.54	-1.72	-0.92
Supplemental Items
EBITDA	-60.62M	-125M	-164M	-126M
EBITA	-62.56M	-127M	-168M	-131M
EBIT	-62.56M	-127M	-172M	-140M
EBITDAR	-48.51M	-112M	-148M	-109M
Effective Tax Rate - (Ratio)	-0.17	-0.27	-0.39	-4.37
Current Domestic Taxes	77K	61K	1.47M	2.42M
Current Foreign Taxes	25K	279K	1.23M	1.47M
Total Current Taxes	102K	340K	2.7M	3.89M
Deferred Domestic Taxes	-	-	-1.77M	-
Deferred Foreign Taxes	-	-	-311K	-90K
Total Deferred Taxes	-	-	-2.08M	-90K
Normalized Net Income	-36.92M	-79.72M	-98.7M	-54.39M
Supplemental Operating Expense Items
Advertising Expense	-	12.3M	-	-
Selling and Marketing Expenses	75.4M	138M	225M	230M
General and Administrative Expenses	43.52M	145M	144M	165M
Research And Development Expense From Footnotes	118M	257M	365M	438M
Net Rental Expense, Total	12.12M	12.35M	16.15M	17.67M
Stock-Based Comp., COGS (Total)	553K	61K	133K	101K
Stock-Based Comp., R&D Exp. (Total)	11.11M	65.62M	35.64M	23.82M
Stock-Based Comp., S&M Exp. (Total)	4.68M	14.49M	7.58M	5.56M
Stock-Based Comp., G&A Exp. (Total)	4.9M	69.7M	11.96M	18.12M
Total Stock-Based Compensation	21.25M	150M	55.31M	47.6M

Fiscal Period: December	2020	2021	2022	2023
Assets
Cash And Equivalents	112M	1.34B	436M	401M
Short Term Investments	251M	75.33M	831M	812M
Total Cash And Short Term Investments	363M	1.41B	1.27B	1.21B
Accounts Receivable, Total	86.52M	162M	192M	245M
Other Receivables	5.93M	772K	7.09M	7.77M
Total Receivables	92.44M	162M	199M	253M
Prepaid Expenses	18.35M	24.66M	17.05M	11.93M
Other Current Assets, Total	271K	635K	1.25M	1.59M
Total Current Assets	474M	1.6B	1.48B	1.48B
Gross Property Plant And Equipment	32.21M	27.91M	36.92M	45.74M
Accumulated Depreciation	-2.84M	-5.08M	-6.38M	-6.79M
Net Property Plant And Equipment	29.37M	22.83M	30.54M	38.95M
Long-term Investments	4.6M	-	-	-
Goodwill	6.47M	6.47M	26.3M	26.3M
Other Intangibles, Total	760K	456K	39.35M	30.32M
Deferred Charges Long-Term	-	7.89M	15.65M	17.43M
Other Long-Term Assets, Total	9.23M	6.59M	3.94M	3.77M
Total Assets	524M	1.65B	1.6B	1.6B
Liabilities
Accounts Payable, Total	9.35M	22.89M	32.94M	46.51M
Accrued Expenses, Total	16.16M	29.17M	52.43M	64.7M
Current Portion of Leases	6.46M	6.85M	7.8M	3.71M
Unearned Revenue Current, Total	2.26M	7.53M	8.02M	7.25M
Other Current Liabilities	15.52M	4.01M	5.26M	11.4M
Total Current Liabilities	49.75M	70.46M	106M	134M
Long-Term Leases	13.46M	6.61M	11.69M	22.04M
Other Non Current Liabilities	1.8M	568K	7.14M	287K
Total Liabilities	65.01M	77.63M	125M	156M
Preferred Stock Convertible	611M	1.85B	1.85B	1.85B
Total Preferred Equity	611M	1.85B	1.85B	1.85B
Common Stock, Total	5K	6K	6K	6K
Additional Paid In Capital	106M	181M	250M	303M
Retained Earnings	-247M	-467M	-626M	-717M
Treasury Stock	-10.3M	-	-	-
Comprehensive Income and Other	196K	-238K	-3.79M	814K
Total Common Equity	-152M	-286M	-379M	-413M
Total Equity	459M	1.57B	1.47B	1.44B
Total Liabilities And Equity	524M	1.65B	1.6B	1.6B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	49.05M	56.38M	57.79M	61M
ECS Total Common Shares Outstanding	49.05M	56.38M	57.79M	61M
Book Value / Share	-3.09	-5.07	-6.56	-6.77
Tangible Book Value	-159M	-293M	-445M	-470M
Tangible Book Value Per Share	-3.24	-5.2	-7.7	-7.7
Total Debt	19.92M	13.46M	19.49M	25.75M
Net Debt	-347M	-1.4B	-1.25B	-1.19B
Debt Equivalent Oper. Leases	96.94M	98.79M	129M	141M
Account Code - Inventory Valuation	3	-	3	3
Machinery, Total	4.29M	7.28M	9.58M	14.14M
Full Time Employees	791	1.56K	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	200K	100K	100K	-

Fiscal Period: December	2020	2021	2022	2023
Net Income	-59.17M	-128M	-159M	-90.82M
Depreciation & Amortization - CF	1.93M	2.51M	3.9M	4.7M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	4.1M	9M
Depreciation & Amortization, Total	1.93M	2.51M	8M	13.7M
Amortization of Deferred Charges, Total - (CF)	-	380K	343K	-
(Gain) Loss on Sale of Investments - (CF)	601K	1.54M	-3.26M	-27.44M
Stock-Based Compensation (CF)	21.25M	48.73M	55.31M	47.6M
Provision and Write-off of Bad Debts	33K	-169K	24K	-
Other Operating Activities, Total	9.08M	8.45M	14.2M	11.84M
Change In Accounts Receivable	-43.28M	-74.99M	-30.23M	-53.32M
Change In Accounts Payable	2.69M	11.73M	10.9M	12.47M
Change in Other Net Operating Assets	5.03M	-481K	9.24M	10.86M
Cash from Operations	-61.84M	-130M	-94.02M	-75.11M
Capital Expenditure	-3.05M	-2.3M	-6.23M	-9.72M
Cash Acquisitions	-	-	-42.2M	-
Investment in Marketable and Equity Securities, Total	84.23M	178M	-756M	50.84M
Other Investing Activities, Total	-	-5M	-64K	172K
Cash from Investing	81.18M	171M	-804M	41.29M
Issuance of Common Stock	8.33M	38.98M	7.03M	8.43M
Repurchase of Common Stock	-	-95.19M	-	-4.32M
Issuance of Preferred Stock	-	1.24B	-	-
Other Financing Activities, Total	-	-4.35M	-10.82M	-4.92M
Cash from Financing	8.33M	1.18B	-3.78M	-811K
Net Change in Cash	27.67M	1.22B	-902M	-34.63M
Supplemental Items
Cash Income Tax Paid (Refund)	5K	164K	745K	-
Levered Free Cash Flow	-	14.6M	-44.77M	-54M
Unlevered Free Cash Flow	-	14.52M	-45.11M	-54M
Change In Net Working Capital	-	56.36M	-5.41M	17.97M

Fiscal Period: December	2020	2021	2022	2023
Profitability
Return on Assets	-	-7.33	-6.63	-5.48
Return on Total Capital	-	-7.72	-7	-5.92
Return On Equity %	-	-12.62	-10.42	-6.23
Return on Common Equity	-	58.45	47.68	22.94
Margin Analysis
Gross Profit Margin %	75.96	85.04	84.28	86.19
SG&A Margin	51.95	58.28	55.33	49.11
EBITDA Margin %	-26.48	-25.72	-24.62	-15.73
EBITA Margin %	-27.33	-26.23	-25.21	-16.31
EBIT Margin %	-27.33	-26.23	-25.82	-17.43
Income From Continuing Operations Margin %	-25.85	-26.37	-23.78	-11.3
Net Income Margin %	-25.85	-26.37	-23.78	-11.3
Net Avail. For Common Margin %	-25.85	-26.37	-23.78	-11.3
Normalized Net Income Margin	-16.13	-16.44	-14.8	-6.76
Levered Free Cash Flow Margin	-	3.01	-6.72	-6.72
Unlevered Free Cash Flow Margin	-	2.99	-6.77	-6.72
Asset Turnover
Asset Turnover	-	0.45	0.41	0.5
Fixed Assets Turnover	-	18.58	24.98	23.14
Receivables Turnover (Average Receivables)	-	3.91	3.77	3.68
Short Term Liquidity
Current Ratio	9.52	22.72	13.94	11.08
Quick Ratio	9.15	22.36	13.77	10.98
Operating Cash Flow to Current Liabilities	-1.24	-1.85	-0.88	-0.56
Days Sales Outstanding (Average Receivables)	-	93.41	96.81	99.25
Average Days Payable Outstanding	-	81.08	97.23	130.63
Long Term Solvency
Total Debt/Equity	4.34	0.86	1.32	1.79
Total Debt / Total Capital	4.16	0.85	1.3	1.76
LT Debt/Equity	2.93	0.42	0.79	1.53
Long-Term Debt / Total Capital	2.81	0.42	0.78	1.5
Total Liabilities / Total Assets	12.4	4.72	7.83	9.77
Total Debt / EBITDA	-0.41	-0.12	-0.13	-0.24
Net Debt / EBITDA	7.16	12.46	8.43	10.91
Total Debt / (EBITDA - Capex)	-0.39	-0.12	-0.13	-0.22
Net Debt / (EBITDA - Capex)	6.74	12.21	8.08	10.02
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	111.84	37.49	20.6
Gross Profit, 1 Yr. Growth %	-	137.14	36.27	23.33
EBITDA, 1 Yr. Growth %	-	105.7	31.96	-22.97
EBITA, 1 Yr. Growth %	-	103.36	32.42	-21.96
EBIT, 1 Yr. Growth %	-	103.36	35.33	-18.59
Earnings From Cont. Operations, 1 Yr. Growth %	-	116.14	23.97	-42.72
Net Income, 1 Yr. Growth %	-	116.14	23.97	-42.72
Normalized Net Income, 1 Yr. Growth %	-	115.94	23.81	-44.9
Diluted EPS Before Extra, 1 Yr. Growth %	-	101.77	11.93	-44.54
Accounts Receivable, 1 Yr. Growth %	-	86.88	18.75	27.76
Net Property, Plant and Equip., 1 Yr. Growth %	-	-22.27	33.78	27.53
Total Assets, 1 Yr. Growth %	-	213.87	-2.76	-0.2
Tangible Book Value, 1 Yr. Growth %	-	84.42	51.81	5.58
Common Equity, 1 Yr. Growth %	-	88.65	32.53	8.93
Cash From Operations, 1 Yr. Growth %	-	110.51	-27.78	-20.11
Capital Expenditures, 1 Yr. Growth %	-	-24.62	171.12	56.01
Levered Free Cash Flow, 1 Yr. Growth %	-	-	-406.72	19.69
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	-410.77	19.69
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	70.66	28.77
Gross Profit, 2 Yr. CAGR %	-	-	79.76	29.64
EBITDA, 2 Yr. CAGR %	-	-	64.56	0.82
EBITA, 2 Yr. CAGR %	-	-	63.91	1.66
EBIT, 2 Yr. CAGR %	-	-	65.89	4.97
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	63.69	-15.73
Net Income, 2 Yr. CAGR %	-	-	63.69	-15.73
Normalized Net Income, 2 Yr. CAGR %	-	-	63.51	-17.4
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	50.28	-21.21
Accounts Receivable, 2 Yr. CAGR %	-	-	48.97	23.17
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	1.97	30.62
Total Assets, 2 Yr. CAGR %	-	-	74.7	-1.49
Tangible Book Value, 2 Yr. CAGR %	-	-	67.32	26.6
Common Equity, 2 Yr. CAGR %	-	-	58.12	20.15
Cash From Operations, 2 Yr. CAGR %	-	-	23.3	-24.04
Capital Expenditures, 2 Yr. CAGR %	-	-	42.95	105.66
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	92.34
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	92.87
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	52.01
Gross Profit, 3 Yr. CAGR %	-	-	-	58.55
EBITDA, 3 Yr. CAGR %	-	-	-	27.77
EBITA, 3 Yr. CAGR %	-	-	-	27.99
EBIT, 3 Yr. CAGR %	-	-	-	30.85
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	15.35
Net Income, 3 Yr. CAGR %	-	-	-	15.35
Normalized Net Income, 3 Yr. CAGR %	-	-	-	13.79
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	7.79
Accounts Receivable, 3 Yr. CAGR %	-	-	-	41.53
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	9.87
Total Assets, 3 Yr. CAGR %	-	-	-	44.96
Tangible Book Value, 3 Yr. CAGR %	-	-	-	43.52
Common Equity, 3 Yr. CAGR %	-	-	-	39.65
Cash From Operations, 3 Yr. CAGR %	-	-	-	6.69
Capital Expenditures, 3 Yr. CAGR %	-	-	-	47.18